Chicago technology venture capital scorecard for 2011

When technology startups are ready to turbocharge their growth, whether that means quickly expanding into new m arkets or hiring additional talent, they often turn to venture capital firms.

These investors are typically interested in backing early-stage companies, betting they can work with entrepreneurs to develop the next big idea -- and jointly profit from the startup’s success.

Below, you will find 17 of the area’s early-stage technology investment firms and examples of their local portfolio companies. The venture capital firms differ widely in their longevity and investing strategies, not to mention the size of their war chests. But for the most part, they are united by their interest in backing homegrown entrepreneurial talent.

Founded: 2000Founders: BVP is the venture fund of Baird Private EquityCurrent (3rd) fund: $170 million (closed 2008)Invested so far: About $85 millionTypical investment: Up to $10 millionIStrategy: Business services and healthcare/life sciences companies. Prefers the lead investor position in first or second institutional rounds.Portfolio Companies:

PharMEDiumFounder: David JonasFounded: 2003Funding: UndisclosedEmployees: 700+Description: PharMEDium provides standard and customized drug combinations for intravenous therapies to more than 1,800 hospitals in the U.S. For example, it makes a customized mixture for use in a pump that delivers small amounts of medication to spinal fluid for pain management.Outlook: PharMEDium is developing innovative technology platforms focusing on improving the quality of patient care delivery. Later this year, PharMEDium will launch a new product for the operating room that provides audio-visual feedback to support the anesthesia provider in verifying drug and concentration selection, as well as support the pharmacy in tracking medication utilization.

BrightTagFounders: Marc Kiven, Mike Sands and Eric LuntDescription: BrightTag makes software that gives website owners control over code that is planted by outside marketers to collect users' data and track their preferences.

Founded: 2011Founders: Ira Weiss and Guy TurnerCurrent (1st) fund: $18.15 million raised of a $20 million - $25 million goalInvested so far: About $0.8 millionTypical investment: $750,000 - $2.5 millionStrategy: Early-stage software-as-a-service and healthcare IT companies in the MidwestPortfolio Companies:

InContext SolutionsFounders: Bob Gillespie, Tracey Wiedmeyer and Rich ScamehornFounded: 2009Funding: $1.5 millionEmployees: 52 Outlook: We have strategically added 20 new employees, moved to a larger office space, seen significant wins over our competitors and remain on track to double our revenue for the second year in a row. I expect the momentum to carry through the remainder of the year and beyond, as we transition from a tech start-up into a high-growth company.

Tap.MeFounder: Joshua HernandezDescription: Tap.Me's technology platform allows brands to advertise within social and mobile games in integrated ways that don't interfere with gameplay.

Red FoundryFounders: Jim Heising, Ron Franczyk and Andrew NewmanFounded: 2009Funding: $2.8 millionEmployees: 15 Outlook: We just launched a tool for app developers to more easily integrate features from other apps and services. This ability to quickly create a mashup offers an alternative to traditional advertising. We'll be focused on rolling these options out to developers like Fodor's Travel and service providers like Expedia so users can book hotels and other travel deals from within the Fodor's App. SoCoreFounders: Glen Tullman and Pete KadensDescription: SoCore installs commercial solar-power systems for customers that include retailers such as IKEA and JCPenney. YChartsFounders: Shawn Carpenter and Ara AnjargolianDescription: YCharts provides stock research and analysis, with an emphasis on easy-to-understand data visualization tools.

Media ChaperoneFounders: Ed Lewis and Dave ShemenskiFounded: 2010Funding: $1.25 millionEmployees: 5Outlook: We are launching a Family Gift service that allows parents to invite extended family to participate in a gift purchase via Facebook. Later this year, we will launch a mobile family platform, allowing parents to set permissions for mobile apps and purchasing by their kids. EpiWorks

GrubHubFounders: Mike Evans and Matt MaloneyDescription: GrubHub's website and mobile applications connect consumers with restaurants in their area that deliver food.

LIGHTBANK Founded: 2010Founders: Eric Lefkofsky and Brad KeywellCurrent fund: $200 million (closed 2011)Invested so far: Less than $100 millionTypical investment: $500,000-$1 million for a seed round; $1 million-$3 million for Series AStrategy: Early-stage companies in large, high-growth industries such as social media, the consumer Web and business-to-business technology.Portfolio Companies:

BodyShopBidsFounder: Brad WeisbergFounded: 2011Funding: $1.25 millionEmployees: 9Description: Car owners can use BodyShopBids' website or mobile app to upload a photo of their damaged vehicle. Local body shops bid on the repair work and customers can book appointments online.Outlook: I've been overwhelmed with how grateful people have been for taking a frustrating process and making incredibly simple. Our goal is to create a turn-key solution for car repair that benefits customers, body shops and insurance carriers. BenchPrepFounders: Ashish Rangnekar and Ujjwal GuptaDescription: BenchPrep makes test preparation courses that can be accessed on the Web, iPhone, Android or iPad. Sprout SocialFounder: Justyn HowardDescription: Sprout Social's technology helps companies manage their social media presence through publishing updates across platforms, managing teams and measuring results.

EvedFounder: Talia MashiachFounded: 2010Funding: $12.3 millionEmployees: 30+Description: Eved's technology platform automates the buying and selling for meetings and events.Outlook: We are focused on continuing to increase online transactions and have shown a 150% increase over the last year in transactions. CellTrakFounders: Andrew Kaboff and Steven WegnerDescription: CellTrak specializes in mobile technology for home and hospice care providers, allowing aides and nurses to accurately collect, organize and access patient information.

CakeStyleFounders: Cecelia Myers and Millie TadewaldtFounded: 2011Funding: UndisclosedEmployees: 12Description: CakeStyle is a personal shopping service for women. Customers complete an interview with a stylist, either virtually or in person, and receive a customized box of clothing and accessories every season.Outlook: We're bringing our CakeStylists to cities across the U.S. in the next year via our pop-up shops. We want women all over the country to be able to meet their stylist face-to-face and learn about CakeStyle. We're starting by offering more appointments than ever in Chicago, and our next stop is San Francisco. DoggylootFounder: Ryan SchoopDescription: Doggyloot is a daily deal company for dog owners. AlltuitionFounders: Sue Khim, Sam Solomon and Silas HundtDescription: Alltuition makes online tools for families to manage educational debt and the financial aid process.

Trunk ClubCEO: Brian SpalyFounded: 2009Funding: $11 million Series AEmployees: About 90Description: Offers men a less time-consuming way to shop by shipping clothes to try-on and only charging them for what they keep.Outlook: "We currently have 11,000-plus customers and hope that by the end of next year we have over 100,000," Spaly said. Target DataFounders: Ross Shelleman and Dr. Andrew HamiltonDescription: Data, analytics and direct mail for targeted marketing

Founded: 1986Founders: Steven Lazarus, Keith Crandell, Clinton Bybee and Robert NelsenCurrent (7th) fund: $400 million (closed 2007)Invested so far: About $300 millionTypical investment: $100,000 through "several million"Strategy: ARCH specializes in the so-called "hard sciences," including advanced semiconductors, biotech, instrumentation, chemicals, etc. They work with researchers at universities and national laboratories to commercialize their innovations.Portfolio Companies:

UnivaCEO: Gary TyremanFounded: 2004 with a major pivot in 2010Funding: $9.5 million in Series E and A (post-pivot)Employees: 25-plusDescription: A product that helps companies efficiently spread research and development work across multiple computers.Outlook: Univa projects doubling its business this year, while growing its customer base four times. Half of this growth will come from Europe and Asia. PixelEXX SystemsFounders: Dr. Samuel Wickline, Stuart Solin, Kirk Wallace and Mike HughesDescription: Developing a new way of imaging DNA, proteins and cells for medical and pharmaceutical research

Apparel Media GroupFounder: Jared Golden, Gerry Hays and Amish ToliaFounded: 2009Funding: $1.8 million from seed and Series A roundsEmployees: 10One sentence description: Enables companies to advertise through hyper-local sponsorship programs; for example, Gatorade sponsoring a kids' soccer team or AXE sponsoring college student groups.Outlook: Apparel Media currently helps businesses reach groups in the offline world (via merchandise), but this year the company is launching its first consumer-facing platform, called Pear. The app enables school groups, sports teams, etc. to earn sponsorships by promoting a business of their choice via social media. Power2SwitchFounders: Seyi Fabode and Phil Nevels Description: Helps consumers acquire cheaper electricity with a few mouse clicks.CleversafeFounder: Chris GladwinDescription: Developed and offers a cutting-edge storage method for big data

Founded: 1999Founders: Steven Miller and Bruce BarronCurrent (2nd) fund: $15.2 million (closed 2005)Invested so far: All of it.Typical investment: $1 million to $2 millionStrategy: Origin specializes in e-commerce, social media and software as a service companies. They target Chicago-area and Midwestern companies.Portfolio companies:

IfbyphoneFounder: Irv ShapiroFounded: 2005Funding: $17.6 million in Series A and B roundsEmployees: 70Description: Using unique phone numbers, Ifbyphone tracks the sources of companies' incoming calls, thereby measuring the strengths of different online and offline advertising tools.Outlook: Their goal is to double revenue and penetrate their technology deeper into several sectors, including real estate and home services. Each of these sectors relies heavily on phone conversations to close business. GrubHubFounders: Matt Maloney and Mike EvansDescription: An online food-ordering service ClaimForceFounder: Dennis O'MahoneyDescription: Helps insurance companies streamline their claims processing

Founded: 1996Founders: Keith Bank and Byron DenenbergCurrent (2nd) fund: $75 million (closed 2001)Invested so far: All of it.Typical investment: $3 million to $5 millionStrategy: KB Partners is in the process of winding down its operations and working with its four remaining portfolio companies toward exits. Meanwhile, Bank and Denenberg are investing their own capital as angel investors. Their investments range from $250,000 to $4 million.Portfolio Companies:

Club Champion GolfFounders: Keith Bank and Joe LeeFounded: 2010Funding: $1.15 million in Series AEmployees: 18Description: A golf club custom-fitting and building service.Outlook: Club Champion has four locations &#8212; three in the Chicago area and one in Philadelphia &#8212; and will open two more this year. Fusion Risk ManagementFounder: David NolanDescription: Cloud-based risk management software

Founded: 2010Founders: Troy Henikoff, Sam Yagan, Sandbox Industries and the I2A FundCurrent (2nd) fund: $1.5 million (closed 2011)Invested so far: About $1 millionTypical investment: $25,000 in return for 6 percent equityStrategy: Excelerate Labs is Chicago's leading incubator, meaning it admits about 10 startups annually and puts them through a three-month boot camp. The process concludes with Demo Day, where each company pitches to an audience of about 500 potential investors at the House of Blues.Portfolio Companies:

CureeoFounder: Maida Swenson-FortuneFounded: 2011Funding: $25,000 via Excelerate LabsEmployees: 3Description: An online marketplace for fine art.Outlook: "In the coming year, we plan to create a substantial network of exceptional artists and to demystify the art buying process for thousands of people," Swenson-Fortune said.Good Karma Clothing for KidsFounder: Sharon SchneiderDescription: A subscription service for baby clothes FibroblastFounders: Dr. Andrew Albert and Scott VoldDescription: A cloud-based tool that helps doctors and patients with scheduling and referrals.

Founded: 2012Founders: Matt Moog and Brian HandCurrent (1st) fund: $5.7 million (closed 2012)Invested so far: $525,00Typical investment: $75,000 to $200,000Strategy: FireStarter focuses on software as a service, e-commerce, and digital media and marketing. It invests in companies that are at or near revenue generation, with a business plan and well-developed technology.Portfolio Companies:

RetrofitFounder: Jeff HymanFounded: 2011Funding: $2.7 million in seed and Series A roundsEmployees: 20Description: Retrofit is a weight-loss program that heavily relies on technology, including wireless activity trackers and wi-fi scales.Outlook: "Our sole focus is making Retrofit the best possible product," Hyman said. "If we do that, and people successfully lose weight, the rest will take care of itself." Kapow EventsFounders: Marc Halpin and Daniel McCormickDescription: Helps large companies host events for 20 to 100 guests &#8212; clients can select between pre-packaged or customized optionsTap.MeFounder: Joshua HernandezDescription: A technology platform that allows companies to advertise within mobile games.

ZorchFounder: Nicole LoftusYear Founded: 2002Funding: $7 million in Series A, B, CEmployees: 45Description: Promotional products (mugs, T-shirts, pens) distributor for large businessesOutlook: Zorch just launched a new technology that makes its sourcing process for T-shirts, mugs, hats, etc. more efficient, so clients, such as Citigroup and Chevron, save money.Brill StreetFounders: David Frej and Nancy LernerDescription: Helps companies find entry-level/Gen Y workers, often using social media

Founded: 1996Founders: J.B. and Anthony PritzkerCurrent Fund: Not applicable. The Pritzkers invest their own capital and do not raise money from outside investors.Invested so far: Not applicable. It's a perpetual fund, meaning they are always open to deals.Typical investment: $3 million to $25 millionStrategy: The Pritzkers, who are brothers, are looking for seasoned entreprenuers who have previously led or worked at startups and are focused on solving problems in large, growing markets. They occasionally make seed investments of $50,000 to $1 million.Portfolio Companies:

Analyte HealthFounders: Dan Malven and Michelle SobelFounded: 2008Funding: $14 million in Series A and BEmployees: 75Description: Operates sexualhealth.com and STDtestexpress.com, which enables people to remotely order an STD test and receive the results online.Outlook: "We hope to be the largest online STD clinic a year from now," said CEO Sridhar Murthy. The company will upgrade its services this fall, including accepting insurance and expanding its test offerings.SportvisionFounders: Stan Honey, Jerry Gepner and Bill SquadronDescription: A creator of sports marketing technology, most notably the yellow first-down line during NFL broadcasts. SMS AssistFounder: Mike RothmanDescription: Uses online technology to help companies manage and maintain buildings